Studio Live Accounting
description
Transcript of Studio Live Accounting
Financial Puzzle
Studio Live AccountingLynda CannedyFACTS Design for 6341 Summer 20101Why teach accounting?
Secondary high school students Twelve week time frame
IntroductionStudio Live AccountingLoan Process and Proceduresloan application and feedback from local bankers2Literate in:
Spreadsheet software
Business communication
Accounting terminology
Mathematical and computational literacy
Literacy3Studio Live
Bella Martin, owner
Rents recording studio and sells time to customers
Wants to purchase more sound equipment
Bank is requiring financial statements
Needs our help to set up financial system for business and to apply for loanAnchored in larger field of accountingProblem-Solving4Disciplinary Structures Understanding accounting cycleDebits and creditsT-accountsChart of accountsSource documentsBusiness organizationLoansDisciplinary Processes Calculator and keypad operationsSpreadsheet skillsPMT function/loan scenariosGraphic representationsAnalyze and record transactionsPrepare financial statements and analyze finanacial dataDisciplinary Discourse Presentations of financial information and findingsNarrative Discourse Chik-Fil-A storyKnowledge5Searching for InformationModel business financial statementsBusiness organizational form characteristicsSorting and Judging InfoSorting source documentsJudging transactionsComparing numbers between businessesJudging which formula or calculation to useCommunicting InformationCommunicating findings with each otherPresenting and justifying findings to CPAs and bankersInformation6Cooperative groups of 3-4 for research activities
Groups balanced for skill, diversity, and technological competence
Rider & Co. weekly board meetings
Community outside the campus with local CPAs and bankersCommunity7Actual shoebox full of source documents and questions from the client will be brought to students
Activities - AuthenticStudents become Rider & Co. accounting partnership with Bella Marting (Studio Live) as first client
Access to local CPAs and bankers
Students will prepare actual printed financial statements and receive feedback from CPAs and bankers
8Exploration of Excel spreadsheet software with focus on accounting uses
Activities Background BuildingResearch on Internet finding model financial statements and comparing proprietorship, partnership, corporation
Practice calculator skills using keyboard
Using textbook and Aplia software, students will get background practice on account classifications, accounting equation, T-accounts, transaction analysis and recording, posting, preparing a work sheet, and preparing financial statements
Research on Internet - economics of prime rate and how interest rates are set
9Construct templates on Excel from actual accounting forms
Activities - ConstructingConstruct spreadsheet comparing types of businesses
Construct accounting system for Studio Live and complete accounting cycle for fiscal period
Construct financial statements for Studio Live
Construct power point presentations to present financial dataConstruct loan application for Studio Live loan10Students will share power points presenting financial data with rest of class and with local CPAs
Activities - SharingShare with classmates about best forms of business organization for Rider & Co. and Studio Live
Share models of financial statements with classmates and discuss advantages/disadvantages of each
Students will share loan application forms with local bankers for feedback
11All content comes from Texas Essential Knowledge and Skills (TEKS)120.42. Accounting I 111.34. Geometry 111.32. Algebra I 118.2. Economics
Content12The following programs will be used:
Microsoft Office Word 2007 Microsoft Office Excel 2007 Microsoft Office Power Point 2007 Internet with Internet Explorer and/or Mozilla Firefox Century 21 Accounting general journal approach Aplia software replaces accounting workbooks with online activities Real Player or QuickTime to watch videos
Tools
13Continual observation as a form of assessment
Rubrics for the business organization comparison, the accounting cycle, financial statements
Feedback from classmates and outside experts will be given on the power point presentations and the loan applications
Aplia software has automatic assessment as progress is made
Students will self-assess periodically
System of Assessments14Physical 24 computers outlining the perimeter of room and conference table in middle
Intellectual all computers have internet access and many software applications available
Values high expectations for working together as worthy individuals are paramountLearning Environment
151. Develop details of rubrics for assessment.
2. Make a list of websites with company financial statement examples or models.
3. Check working condition of computers and software.
4. Make sure websites are not blocked by school firewall. Submit unblock requests.
To Do List
16Presentation created on Microsoft Office Power Point 2007 Design and graphics from Microsoft Office All other photos taken by authorFACTS design from Teaching with Technology by Priscilla Norton and Karin M. Wiburg (2003)
Attributions
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